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Evening Wrap: Brent Slips Below $104 as Gulf Diplomacy Replaces the War Premium
Crude eases, gold cools, Tadawul grinds higher. The story isn't the prices — it's what's missing from them.
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KA
Karim Al-Rashidi
· 3 min read
Brent settled at $103.58 a barrel this evening, down a dollar and five cents on the session. WTI tracked it lower to $97.08. On any other Friday in this calendar year, a one-percent drop in crude would be a footnote. Tonight it is the entire story.
Consider the backdrop. Reuters is reporting a Qatari negotiating team is in Tehran trying to broker a US-Iran deal to end the war. Bloomberg has the UAE joining Saudi Arabia and Qatar in urging Washington not to restart hostilities. And CNBC notes th…